well the thing is that i did have access to £200k that why i have transferred the funds from overseas to the UK
this is the requirment of initial application where funds need to be held now the funds needs to be transferred into the business and investment must be done
if you see Appendix A Paragraph 37 extension attributes it will give u a an exact idea
investment Specified docs :
45. The applicant must provide their business accounts and accompanying evidence of their investment, which must meet the following requirements:
(a) if the applicant’s business is legally required to produce audited accounts, the audited accounts must be provided;
(b) if the applicant’s business is not legally required to produce audited accounts, unaudited accounts and an accounts compilation report must be provided from an accountant;
(c) the audited or unaudited accounts must show the investment in money made directly in the business by:
(i) the applicant, in their own name,
(ii) one or more seed funding competitions or UK or Devolved Government Departments, as set out in Table 4, and the accounts must be accompanied by a letter from the source, confirming that the investment was made on the applicant’s behalf, or
(iii) a third party other than those in (ii), and the accounts must either:
(1) confirm that the investment was made as a result of the applicant’s activity, or
(2) be accompanied by a letter from the Department for International Trade, confirming that the investment was made as a result of the applicant’s activity;
(d) if the applicant has made the investment in the form of a director’s loan:
(i) it must be shown in the relevant set of accounts provided,
(ii) unless the investment was made on or before 19 November 2015 and the date of application is before 19 November 2021, the investment must be shown through readily identifiable transactions in the applicant’s business bank statements, which must clearly show the transfer of this money from the applicant to their business, and
(iii) the applicant must provide a legal agreement, between the applicant (in the name that appears on their application) and the business, showing:
(1) the terms of the loan,
(2) any interest that is payable,
(3) the period of the loan, and
(4) that the loan is unsecured and subordinated to other creditors’ loans to the business;
(e) if the applicant has made the investment in the form of share capital, the accounts must show the shareholders, the amount and value of the shares (on the date of purchase) in the applicant’s name as it appears on their application. If the value of the applicant’s share capital is not shown in the accounts, then a printout of the company’s register of members from Companies House must be provided;
(f) the accounts must clearly show the name of the accountant, the date the accounts were produced, and how much the applicant has invested in the business;
(g) if the applicant is claiming points for investment from a venture capital firm, they must also provide a dated letter from the venture capital firm, on its headed paper, confirming:
(i) the applicant’s name,
(ii) the date(s) the money was transferred to the applicant or invested in their business
(iii) that the venture capital firm was registered with the Financial Conduct Authority on the date(s) in (ii) above, and
(iv) confirmation that the venture capital firm will verify the contents of the letter to the Home Office on request.
(h) if the applicant is claiming points for investing £50,000 from one of the following sources, and has not been awarded points for those funds in a previous application, they must also provide the following documents:
(i) if the source is a seed funding competition or a UK or devolved government department, the applicant must provide the specified evidence in Table 4A above as evidence of the source of the funds (except that the letter referred to in paragraph 41(a)(i) does not need to be dated within the three months immediately before the date of the application);
(ii) if the source is a venture capital firm, the applicant must provide:
(1) A letter from a director, partner or fund manager of the venture capital firm, which includes:
(_a) confirmation of the amount of money that was made available to the applicant, the entrepreneurial team or the applicant’s business from the organisation,
(_b) a statement providing detailed information on the strategy, structure and financial exposure of the fund,
(_c) a statement detailing the rationale for the investment, providing specific information about the circumstances which led to the investment decision,
(_d) a statement confirming that the business/proposed business is a genuine and credible proposition, and
(_e) confirmation that the venture capital firm was, at the time the investment was made, registered with the Financial Conduct Authority (FCA) and its entry in the register included a permission to arrange, deal in or manage investments, or to manage alternative investment funds.
(2) A copy of the completed term sheet for the investment, signed by all parties to the transaction, which must include details of the company valuation, company structure, founder and investor rights, the structure of funding and the type of security being taken.
(3) A breakdown of the technical, legal, commercial and financial due diligence conducted by the venture capital firm in support of the investment.
(4) A letter from an accountant, validating the financial condition of the fund.
(5) A letter from a legal representative, who is not the applicant, which confirms that the letters and declarations in (1)-(4) contain the genuine signatures of the required signatories. The letter must clearly show the registration or authority of the legal representative to practise legally in the UK.
Source ttps://
www.gov.uk/guidance/immigration-rules/i ... attributes
